So, you have found the house of your dreams and you got overwhelmed about it. However, at the back of your mind you know that before you can call that perfect house your own, you need to make an offer and hope that it gets accepted.
The seller may have a few other buyers who are as interested of his house the same way you do but regardless of the market conditions, here are a few tips that you can use to make a good offer that can put you into a competitive position.
Talk to your real estate professional and search for the comparables in the area. Check on those that have been on sale and sold within the past three months so that you will have an idea of the asking price for similar properties. From there, formulate your offer based on the property’s location and specific amenities.
Mode of Payment
The manner of payment affects your chance of getting that dream house of yours. If it is cash, you will have a chance to bargain a lower price since it is easier to close the deal and no mortgage people to deal with.
If you are using financing but can close it in 30 days, tell the seller about it because it can help perk things up and sweeten the deal.
While you may want that an old worn out carpet be replaced or save on your closing costs and seller concessions are part of the offer process, you might want to reconsider this and give it up especially if you are in a competitive bidding situation. The seller would always want to choose an offer with least work and expenses on their part.
One way to get that house is to make an appeal to the seller. One real estate agent has taught her buyers to make a letter stating the personal reason why they prefer to buy that house. Among the reasons could be proximity to their family. Another could be a simple reason of saying that the house reminds the buyer of their old house in that same location and so they promise to take good care of it. Sellers would want to see that the house will be taken care of.
If you think you have found the house of your dreams, you make it easy for the process to finish. Do a quick inspection, bid the most affordable price, offer the best payment scheme — these are among the best ways to get that house. Moreover, stating your reasons to explain to the seller that the house is special and an assurance that you will take care of it the same way he did, is another effective way of getting that house.
These tips may not get you that house but you have tried your best to offer the most competitive bids and you will eventually find that almost perfect house that is destined for you to buy.